Getty 360 - Announcement - UPDATED OP

We have an amazing collection of RF content across our brands and, increasingly, certain larger customers are looking for a way to access all of this content on one site. We’ve created feature that will allow specific high-value customers access to the full breadth of our RF content in a single search on gettyimages.com, including all GI, and all iS and TS RF content. ‘Getty Images 360’, will give unique access to these customers via a special log-in.

Exclusive iStock content that is not opted-in to the partner program will be made available through Getty Images 360 on the same terms as Getty Images royalty-bearing RF content. Standard Getty Images price-points reflect the added value of iS content being paired with dedicated sales and service and increased legal protections.

To be clear, the additional content from iStockphoto will not be visible to all Getty Images customers in the way some E+ and TAC or Vetta content is. Getty Images 360 is not designed to reach our entire customer base; it is targeted to our most valuable agency, corporate and media customers. We plan to make this feature available starting in May or June, stay tuned.

Official Notice: New Royalty Rate for iStock Non-Exclusive content on Getty Images

NOTE: Royalty rates for exclusive content will not change and will be paid at the standard 20% rate.

We have set a new non-exclusive rate of 15% for all non-exclusive iStockphoto content licensed through all Getty Images properties (outside of iStockphoto), including single image sales in the Partner Program. The rates for content licensed from iStockphoto will remain as they are currently listed on the Rate Schedule. The new rate will come in to effect on or after April 20, 2013.

Royalties from Getty Images 360 will be reported monthly under the Getty Images category in your stats. Since the customer access is so focused we expect the returns to be proportionate to the limited audience but we are pleased to be able to begin to expose our best Getty Images customers to the full breadth of RF content we represent for the first time.

ADDITIONAL INFORMATION

Where is this content being pulled from

Partner Program files = goes to Getty 360

iStockphoto files = goes to Getty 360

Mirrored content ALREADY on Getty = goes to Getty 360

Editorial content - will not go to Getty 360

So everything that is available on any of the Getty properties(EXCEPT EDITORIAL CONTENT THAT IS ON iStock) will end up on Getty 360. If you decide to deactivate content on the Partner Program, iStock, Getty site(not Getty 360) that content will not go to Getty 360.

Royalty Structure:

NOTE: The changes for the non-exclusive royalties on the PP will occur on or after April 20, 2013. The standard rate of 20% for Exclusives will not change.

Royalties on Getty 360

Exclusives - 20%

Non-exclusives - 15%

Royalties on Partner Program files

Exclusives - 20%

Non-exclusives - 15%

Video Royalty Rates: Current

Exclusives - 25%

Non-exclusives - 20%

Regarding the Price Point:

I've grabbed a snippet from the OP for reference:

Exclusive iStock content that is not opted-in to the partner program will be made available through Getty Images 360 on the same terms as Getty Images royalty-bearing RF content. Standard Getty Images price-points reflect the added value of iS content being paired with dedicated sales and service and increased legal protections.

I don't have the exact breakout of what the pricing but I will point out that the ASA indicates exactly what our intent is related to the movement of Exclusive content in to other collections outside of iStock. Clearly this will also apply to Non-exclusives in regards to the Getty 360 program:

I've grabbed a snippet from the Exclusive ASA(specifically part c of section 3. Grant of Authority) and have highlighted the most important parts in blue:

3. Grant of Authority
c. Exclusive Content may be included in one or more current or future content collections (“Collections”) made available for licensing or distribution by iStockphoto or third party distributors (each a “Distribution Partner”). Your Exclusive Content may be made available for licensing through a lower price tier royalty-free Collection of a Distribution Partner only if you opt in to the “Partner Program” category or other applicable indicator under the preferences panel of your account profile on the Site. Unless otherwise provided for in the upload process or on the Site, your Exclusive Content may be made available for licensing through a similar or higher price tier Collection of a Distribution Partner as may be determined by iStockphoto from time to time upon notice to you either by posting notice on the Site or otherwise. The price tier of a Collection shall be determined by iStockphoto, acting reasonably, taking in to consideration the average comparable pricing on the Site. For all Exclusive Content that moves into another Collection, the royalties paid to you shall be as set out in the Rate Schedule (defined below). The price tier of a Collection shall be subject to promotions and varying discounts from time to time.

Any idea on the expected relative sales on Getty 360 vs. Gettyimages.com? In other words If an image say gets 100 sales on Gettyimages.com over some time period, what would be the expected sales on Getty 360? I would expect designing and going into this program(Getty 360), people have made estimates on this to support the business case. Thanks.

Hmm, I think I have missed something. I knew that just exclusives would join on gettyimages.com. I wonder how a non-exclusive like me can get its iStock content on gettyimages.com? Is it a bridge thing or do I need to set in any preferences to opt in and so on?

Posted By Lobo:
We have an amazing collection of RF content across our brands and, increasingly, certain larger customers are looking for a way to access all of this content on one site. We’ve created feature that will allow specific high-value customers access to the full breadth of our RF content in a single search on gettyimages.com, including all GI, and all iS and TS RF content. ‘Getty Images 360’, will give unique access to these customers via a special log-in.

Exclusive iStock content that is not opted-in to the partner program will be made available through Getty Images 360 on the same terms as Getty Images royalty-bearing RF content. Standard Getty Images price-points reflect the added value of iS content being paired with dedicated sales and service and increased legal protections.

Exclusive iStock content that is not opted-in to the partner program will be made available through Getty Images 360 on the same terms as Getty Images royalty-bearing RF content.

which is? My experience with E+ files is that they are cheaper on Getty than here. And considering the fact that Getty pays 20% royalties as opposed to 40% here, I am not sure if that is a good deal or not.

So, What is the exact price structure for those images on Getty? I am sure that those special clients also get special rates?

Hmmm.... The Getty 360 announcement in this latest newsletter doesn't seem very clear to me. Has it been deliberately worded this way to gloss over things? Does iStock expect us to have to examine/interpret these words ourselves and go away and try to figure out what it really means to us?

Since we're supposedly in a new era of improved communication, I would appreciate more detail - with some hard figures included - on what exactly the impact is for us as contributors.

If I understand it correctly, Getty now has the right to sell all my images (as I am not opted into the PP) to their 'best/biggest' customers and only pay me 20% royalty instead of the current 40% I have earned through iStock. Sure, I have already 'consented' to this royalty level for my Agency/VETTA/E+ images but I have not agreed to earn less than 40% royalty on my other images. And I was actually in the process of removing content from these 'premium' libraries and returning them to the standard collection.

However, the main issue I have with this is that we have no knowledge of what these big Getty customers actually pay for our images. Can iStock share a dollar figure, based on this 20% royalty, that we are likely to be paid for the sale of our non Agency/Getty/E+ images on the Getty 360 system so we can see how things stack up?

Another huge concern is the fact that we will not earn any RCs for such 360 sales..... So the longer this goes on it really does appear as though Getty's ultimate intention here is to pay us a maximum 20% royalty.

Maybe iStock should have waited to send out the 'exclusive' survey until after this announcement.

Exclusive iStock content that is not opted-in to the partner program will be made available through Getty Images 360 on the same terms as Getty Images royalty-bearing RF content.

which is? My experience with E+ files is that they are cheaper on Getty than here. And considering the fact that Getty pays 20% royalties as opposed to 40% here, I am not sure if that is a good deal or not.

So, What is the exact price structure for those images on Getty? I am sure that those special clients also get special rates?

Here are the prices for my E+ files at Getty. 20% royalties at these prices is somewhat better then I get for most at iStock.

Posted By PeskyMonkey:
Hmmm.... The Getty 360 announcement in this latest newsletter doesn't seem very clear to me. Has it been deliberately worded this way to gloss over things? Does iStock expect us to have to examine/interpret these words ourselves and go away and try to figure out what it really means to us?

Since we're supposedly in a new era of improved communication, I would appreciate more detail - with some hard figures included - on what exactly the impact is for us as contributors.

If I understand it correctly, Getty now has the right to sell all my images (as I am not opted into the PP) to their 'best/biggest' customers and only pay me 20% royalty instead of the current 40% I have earned through iStock. Sure, I have already 'consented' to this royalty level for my Agency/VETTA/E+ images but I have not agreed to earn less than 40% royalty on my other images. And I was actually in the process of removing content from these 'premium' libraries and returning them to the standard collection.

However, the main issue I have with this is that we have no knowledge of what these big Getty customers actually pay for our images. Can iStock share a dollar figure, based on this 20% royalty, that we are likely to be paid for the sale of our non Agency/Getty/E+ images on the Getty 360 system so we can see how things stack up?

Another huge concern is the fact that we will not earn any RCs for such 360 sales..... So the longer this goes on it really does appear as though Getty's ultimate intention here is to pay us a maximum 20% royalty.

Maybe iStock should have waited to send out the 'exclusive' survey until after this announcement.

Posted By cobalt:
Do I understand this correctly - on istock I will receive 18%, but on all other getty sites, including Thinkstock, photos.com, gettyimages itself, I will be getting 15% only starting end of April.

Posted By beklaus:
So do I understand this correctly: A customer will see iStock images on a Getty360 site but pay Getty prices for the images they could get much cheaper on iStock?

The Buyer community that will have access to the Getty 360 content(which is essentially ALL the Getty Images content(PP, iS, and GI) in one location). Part of the reason we have provided this is to accommodate our highest value clients request for an easier way to purchase content. We aren't providing access to this specific piece to everyone of our clients. It's a very specific clientele.